Cantor Fitzgerald Upgrades Netflix to Buy

Research analysts at Cantor Fitzgerald have upgraded their rating on Netflix (NFLX) from Hold to Buy and raised the price target on the stock from $405 to $425.


“We’re upgrading NFLX to BUY from HOLD and increasing our PT to $425 from $405 on stronger-than-expected 1Q:14 results and better 2Q:14 guidance. With international expansion firmly in place and profitability achieved ahead of expectations, with the prospects for an imminent launch in France and Germany, and a $1-2 price hike later this quarter across its geos, NFLX has gotten a lot more compelling with several catalysts in tow, in our view.” Cantor Fitzgerald said in a note to clients

“Subscriber growth metrics show that consumers’ appetite for the service remains strong even as Netflix’s penetration approached a third of all U.S. domestic households. The ~24% pullback from its recent high makes the stock a compelling buy again, in our view” it added

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Shares of Netflix (NFLX) closed at $348.49 on Monday.

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